In both cases, the figures are multi-year highs, with the seasonally adjusted annual rate of housing starts at 954,000, its highest level since July 2008, and the initial claims of 335,000 the lowest level since January 2008.

Compared with a year ago, new-home construction was up 36.9%. For all of 2012, 780,000 new homes were started, the most since 2008.

Nevertheless, housing starts are still below historical levels. Builders have started construction on an average of 1.5 million new homes a year since 1959.

So even with a big jump, last year’s level was only about half the average seen over the past 50-plus years — and as John Shipman notes, last year’s figure was 23% lower than the worst pre-financial crisis year, 1991, since 1959.

About Stocks To Watch

Earnings reports, corporate strategies and analyst insights are all part of what moves stocks, and they’re all covered by the Stocks to Watch blog. We also look at macro issues, investor sentiments and hidden trends that are affecting the market. Stocks to Watch gives you the full picture of the U.S. stock markets, all day long.

The blog is written by Ben Levisohn, a former stock trader who has covered financial markets for the Wall Street Journal, Bloomberg and BusinessWeek.